Shareholding16 Jun 2026, 05:40 pm
GIC Promoter Sells 5% Stake via Offer for Sale
AI Summary
General Insurance Corporation of India (GIC) announced an Offer for Sale (OFS) by its promoter, The President of India, acting through the Ministry of Finance. The offer initially proposed to sell up to 35,088,000 equity shares (2% stake). The promoter has now exercised the oversubscription option to sell an additional 52,632,000 equity shares, bringing the total offer size to up to 87,720,000 equity shares, representing 5% of the company's paid-up equity share capital. The sale will occur through the stock exchange mechanism on June 16, 2026 (for non-retail investors) and June 17, 2026 (for retail investors and employees).
Key Highlights
- Promoter (President of India) to sell up to 5% stake in GIC.
- Total offer size is up to 87,720,000 equity shares.
- Offer for Sale (OFS) to be conducted via stock exchanges.
- Sale dates are June 16 (non-retail) and June 17 (retail/employees).
- Retail investors to have 10% of the offer size available.
Price Impact
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